USD/CNY Down Near 6.1550 after PMI

The Yuan retreated from an early high against the U. S dollar as HSBC/Markit revised down their final manufacturing PMI for China suggesting contraction at a faster than initially estimated rate.

China’s manufacturing sector continued to contract in April, the latest survey from HSBC and Markit Economics revealed – with a final purchasing managers’ index score of 48.1.

That was down from last month’s flash estimate of 48.3, although it was up from the final March reading of 48.0.

RTT

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